{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-sets-to-break-diagonal-resistance-to-the-upside\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-sets-to-break-diagonal-resistance-to-the-upside\/","headline":"GBPJPY Sets to Break Diagonal Resistance to the Upside","name":"GBPJPY Sets to Break Diagonal Resistance to the Upside","description":"GBPJPY Analysis: Price Sets To Break Above Diagonal Resistance GBPJPY is about to break through the diagonal resistance to the upside. Following the multiple retests of the daily bullish order block (Daily +OB), the price sets to head upward as it creates a lower low above the order block. However, the market’s environment is a […]","datePublished":"2023-02-09","dateModified":"2023-02-09","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/02\/u.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/02\/u.jpg","height":597,"width":1194},"url":"https:\/\/forexschoolonline.com\/gbpjpy-sets-to-break-diagonal-resistance-to-the-upside\/","about":["Article","charts","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":329,"keywords":["Article","Daily Chart","Forex","forex price action","FX Technical Analysis","GBP","GBPJPY","JPY","Market Anticipation","Market Expectation","Market Prospect","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"GBPJPY Analysis: Price Sets To Break Above Diagonal ResistanceGBPJPY is about to break through the diagonal resistance to the upside. Following the multiple retests of the daily bullish order block (Daily +OB), the price sets to head upward as it creates a lower low above the order block. However, the market’s environment is a ranging one, as the price is neither ascending nor descending in fractals on the higher timeframe.GBPJPY Significant ZonesDemand Zones: 148.000, 142.700Supply Zones: 179.900, 163.700According to the MA Cross, the market has gone lower into the consolidation range. Towards the end of October 2022, the price rallied into the premium to create a local high at the 172.100 price level. The high created at the end of the rally marked the swing high of the current trading range of the GBPJPY as well as the beginning of the diagonal resistance. This diagonal resistance might get invalidated as the buying pressure at the daily bullish order block overwhelms the market.GBPJPY was in a consolidation phase before the emergence of the diagonal resistance in November 2022. On September 10, 2022, the price moved from external liquidity to external liquidity. Price broke the resistance (EQH) of the consolidation zone to grab buy-side liquidity before heading downward deep into an oversold region. The current trading range is defined by the low created at the 148.800 price level during the slump and the high created at October’s high. A failure swing emerged as the price bounced off the daily bearish order block (daily -OB) at the 166.300 price level.Market ExpectationThe first reaction of price in the daily bullish order block created the long-term low on the four-hour chart. GBPJPY is not expected to break the long-term low before reaching the daily bearish order block just above the 165.000 price level.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. "}